AsemconnectVietnam - According to the preliminary statistics, Vietnam's export turnover for phones and components in July of 2026 exceeded US$6.80 billion, marking a 27.80% increase from the previous month and a 22.16% rise compared to the same period of 2025.

The country’s total exports of phones and components for the first seven months of 2026 reached US$38.49 billion, an increase of 18.60% year-on-year.
Regarding export destinations, China, the United States, the EU, and South Korea remained the largest markets, accounting for a significant share of total turnover. However, the market structure is shifting, with exports to Asian markets, particularly South Korea and Japan, growing at a faster pace than those to the US and the EU.
China remained the largest export market during the first seven months of 2026, with turnover reaching US$8.15 billion, a 24.29% increase that surpassed the industry's overall growth rate. Its market share rose from 20.2% in the first seven months of 2025 to 21.17% in the same period of 2026. In July alone, the exports reached US$1.21 billion, up by 5.01% from the previous month and 7.41% year-on-year. These results underscore China's continued importance as an outlet for Vietnam's phone and component industry and reflect the increasingly close integration between Vietnam and the regional electronics supply chain.
The United States was the second largest market in the first 7 months of this yeawr, with export turnover reaching US$7.12 billion, an increase of 10.07%. In July alone, the exports to the United States reached US$1.5 billion, a sharp increase of 43.5% compared to June and 35.4% year-on-year. Although solid growth was maintained, the growth rate in the US market lagged behind the overall average, causing its share to drop from 19.92% to 18.48%. This indicates that while the US remains a key market, it is no longer the industry's strongest growth driver in 2026.
South Korea stands out as the brightest spot among major export markets. The export turnover for the seven-month period reached US$3.99 billion, a surge of 69.28%, raising its market share from 7.25% in the same period of 2025 to 10.35% in 2026. In July alone, exports to South Korea totaled US$806.05 million, up 41.02% from the previous month and 43.55% year-on-year. This robust growth is likely linked to the expanded production, investment, and operations of South Korean electronics firms in Vietnam, which has boosted demand for domestically manufactured phones and components.
The country’s exports of phones and components to Japan also showed strong growth, reaching US$1.65 billion over the seven months, an increase of 58.95%, which raised its share from 3.20% to 4.29%. In July, export value surged by 77.47% month-on-month and 85.75% year-on-year. Alongside South Korea, Japan is emerging as a key contributor to the growth of Vietnam's phone and component exports, helping to drive market diversification. The exports to the EU in July reached $673.15 million, up by 44.98% month-on-month and 1.68% year-on-year. Over the first seven months, the export turnover totaled $4.52 billion, an increase of 8.59%. As this growth rate lagged behind the industry average, the EU's share of total exports declined from 12.81% to 11.73%. Performance varied significantly across individual EU markets; while Germany (up by 46.22%), the Netherlands (up by 16.99%), and Hungary (up by 207.91%) showed strong growth, the exports to Italy, Spain, Slovakia, and Poland fell by 14.90%, 4.87%, 37.27%, and 52.93%, respectively. These figures indicate uneven demand recovery across the EU, while also suggesting that Vietnamese enterprises still have room to expand in markets with high demand and those serving as major electronics distribution hubs.
Meanwhile, the country’s exports to ASEAN over the seven-month period reached $1.56 billion, a rise of 16.74%. The key markets included Thailand ($632.85 million, up by 38.7%), Malaysia ($299.43 million, up by 31.63%), and the Philippines (up by 37.64%). These markets demonstrated solid growth, reflecting the region's expanding demand for phones and electronic devices. Additionally, several emerging markets recorded rapid growth, such as Armenia (up by 86.44%), South Africa (up by 99.09%), Chile (up by 55.44%), and Peru (up by 104.87%).
Although export volumes in these areas remain modest, their growth represents a positive step toward market diversification. Conversely, the exports to several markets saw notable declines, such as Hong Kong fell by 23.99%, the UK by 9.00%, Mexico by 7.47%, and Argentina by as much as 62.71%. These drops indicate that global consumer demand for electronics has not yet recovered evenly; furthermore, Vietnam's mobile phone industry remains influenced by factors such as device replacement cycles, regional purchasing power, and shifts in international supply chains.
Overall, the export market structure for phones and components from Vietnam is shifting in a more positive direction. While the shares of the US and the EU declined by 1.44 and 1.08 percentage points respectively, the shares of South Korea, Japan, and China rose by 3.1, 1.09, and 0.97 percentage points, respectively. This indicates a shift in growth momentum toward Asian markets alongside improved market diversification.
Source: VITIC